Hearing Of The Senate Committee On Banking, Housing, And Urban Affairs - Executive Session To Mark-up An Original Bill Entitled: "Comprehensive Iran Sanctions, Accountability And Divestment Act Of 2009" And Vote On

Statement

Thank you, Mr. Chairman and Ranking Member Shelby.
Mr. Chairman, I would like to commend you for putting
forth a comprehensive plan to arm the administration with
the tools they need to put a stop to Iran's rogue nuclear
program.
I believe that when it comes to Iran, we should never take
the military option off the table.
But I have long argued that economic sanctions are the
preferred and probably most effective way to choke Iran's
nuclear ambitions.
The Obama administration has recently begun direct
diplomatic negotiations with Iran, and while IT APPEARS
THAT Iran has made some important concessions, they
have yet to prove their commitment to suspending their
nuclear weapons program. These negotiations should
continue, but they do not supplant the need for action by
this Congress. Iran, when it is caught red-handed, has a
habit of promising just enough to avoid a strong response
from the international community. Not this time.
We should continue to talk to the Iranians, but we should
not trust them. The threat of new sanctions will only serve
to strengthen the President's hand as we pursue a
diplomatic solution.
By giving the administration the capability to impose
crippling sanctions on Iran should they continue to pursue a
nuclear weapons program, this Committee today is putting
forth a tough and smart plan to address the real threat Iran
poses to the U.S. and our allies, particularly Israel.
First, Mr. Chairman, I want to commend you for including
in that plan key provisions of the Iran Sanctions
Enhancement Act of 2009, a bill introduced by Senator
Evan Bayh of which I am an original cosponsor.
This bill sanctions companies that export gasoline to Iran.
This is one of the few pressure points where we can act
unilaterally and have a real effect. The world knows that
Iran does not currently have the refining capacity to meets
its domestic gasoline needs and is dependent on imported
gasoline. So now is the time to reduce Iran's energy supply
if they fail to suspend their nuclear enrichment program as
called for in several UN Security Council resolutions.
I am also glad that we will be strengthening export controls
to stop the illegal export of sensitive technology to Iran.
During the recent Iranian elections we witnessed the
Iranian regime go as far as to block the internet and mobile
phone communications of their own citizens.
That is why I and Senator Lindsey Graham introduced
"The Reduce Iranian Cyber Suppression Act" or "RICA", a
bipartisan bill that would bar companies that export
sensitive communications technology to Iran from applying
for or renewing procurement contracts with the United
States Government. I am pleased that this bill has also been
included in our plan.
Our comprehensive plan will also address the role that
global financial institutions play in enabling Iran to develop
a nuclear program.
Last year, 27 Democrats joined me and called for the
Iranian central bank, known as Bank Markazi, to also be
included in our economic sanctions, as they have been
heavily involved in terrorism and helping finance
acquisitions of nuclear and conventional weapons
technology. The central bank has also played a role in
helping other Iranian banks circumvent U.S. financial
sanctions.
That is why I am pleased that included in this legislation is
a Sense of Congress urging the President, in the strongest
terms, to consider immediately using his authority to
impose sanctions on the Central Bank of Iran and any other
Iranian bank engaged in proliferation activities or support
of terrorist groups.
Mr. Chairman, you have done an excellent job crafting a
comprehensive plan to arm the administration with the
tools they need to put a stop to Iran's rogue nuclear
program. I strongly urge this committee to support this plan
and I look forward to working with the Chairman and the
Ranking Member to passing this important legislation when
it comes to the floor in what I hope to be in the very near
future.

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